Agriculture Loan and Insurance

Government to Raise Agri Credit Target by 20%

As Finance minister Arun Jaitley lends focus to addressing rural distress in the coming Budget. He may announce agricultural credit target of Rs 12 lakh crore for 2018-19, up 20% from the level for the current year.

Centre looking for paradigm shift in its farm policy

Realising that the increased production of foodgrains and horticultural produce have, so far, not brought smile on the face of farmers, the Centre has now been looking for paradigm shift where its programmes and policies would now focus more on ‘income’ than on ‘production’ under seven-point strategy.

One-Fourth of Farm Loans Given via Urban Branches

R Ramakumar, Agro Economist, Tata Institute of Social Sciences (TISS), said that, from ₹96,000 crore in 2004 to ₹10 lakh crore now, the flow of agricultural credit may have increased, and over the past decade about 18,000 new rural branches have been set up, and yet there is an agrarian crisis because of definitional dilusion as well as diversion of funds from the needy small farmers.

In the Fisheries Sector Insurance is Under-Utilized

Crops Insurance to be Disbursed Shortly

Collector N. Venkatesh has informed, farmers, who are yet to get crop insurance for the past two fiscals even after paying the premium, will get it shortly as the State government has issued order for the early disbursal of the same.

SBI to Provide Farm Loans for Rs.1,600 Crore

The State Bank of India (SBI) will provide ₹1,600 crore as agriculture loan to farmers in Kerala. At a meeting between top SBI officials and Agriculture Minister V.S. Sunil Kumar, this was among the decisions taken.

Crop Loan Waiver Scheme in Punjab

On Farm Loan Redemption, Govt Spend Rs. 14,000 Cr.

Chief Minister N Chandrababu Naidu has asserted that his government is implementing the crop loan redemption scheme to inculcate confidence among the distressed farmers and prevent them from taking the extreme step, even as Vice-President M Venkaiah Naidu made his observation clear that schemes like crop loan waiver will not give the desired results and will not help the farming community come out of their problems.

The Cut-Off Date Extended for Crop Insurance During Rabi 2016-17

Under PMFBY 26.5% Farmers Sought Coverage.

New Delhi: The agriculture ministry has said, to help farmers insure their crops against natural calamities has provided coverage to 366.64 lakh farmers (26.50%), during the 2016 kharif season, the Pradhan Mantri Fasal Bima Yojana (PMFBY) launched.

The Last Date for Rabi Crop Insurance Premium is Decided.

The last dates for payment of premium for crops cultivated in the Rabi season and allotted districts to two insurance companies, decided by the State Government in consultation with various departments, bankers and insurance companies.

Loan Waiver Certificates to the Farmers.

The cooperative societies department distributing loan waiver certificates to 50 farmers indebted to primary agriculture cooperative credit society (PACCS) in Somarasampettai, so a long standing demand of waiver of loans by small and marginal farmers in Trichy turned into a reality.

The MUDRA Loans Are Now Applicable For Agri-Support Business.

Collector of Nashik, Radhakrishnan B said, the loans through Micro Units Development and Refinance Agency Ltd will can now be given even for agri-support businesses as well and hence the benefits of the same be extended to the beneficiaries.

Agriculture Loan: In Gujarat Agricultural Loans Rise 11 %

In the Gujarat state, banks are seeing good off-take in agricultural loans. At the end of June 2016, the agricultural advances extended to farmers in the state stood at Rs 69,100 crore and it is 11% more compared to the same period, last year.

In Chhattisgarh Crop Loans Worth Rs 2,500 Crore Disbursed.

In Chhattisgarh, during the ongoing kharif season, Crop loans to the tune of over Rs 2,500 crore have been disbursed so far. During Kharif season 2016-17, State Cooperative Bank, APEX Bank through its primary agriculture cooperative societies has set a target to disburse Rs 2,800 crore

The new crop insurance scheme to be launched by the Centre on April 1. This insurance scheme will benefit the farmers from Rajasthan most. New scheme will have premium as low as 1.5% to 2.5%. Currently the state has maximum farm land that is insured but farmers pay hefty amount as premiums.

Odisha government asked all banks to ensure 100% insurance of the crops to the farmers who losses their crops due to natural calamities. Deficient rainfall during kharif has severely affected agricultural production in 139 blocks of 21 districts.